Construction of World’s Tallest Skyscraper Resumes After Years-Long Hiatus
Construction on the Jeddah Economic Company Tower, set to be the world’s tallest skyscraper at 1,000 meters, has resumed in Jeddah, Saudi Arabia. The project, initially conceived over a decade ago, has seen significant delays due to funding constraints and controversy over contractors. The tower, designed by American architect Adrian Smith, will feature a Four Seasons hotel, apartments, and offices, along with the world’s highest observation deck on the 157th level.
Jeddah Economic Company (JEC), an associate of Kingdom Holding Company (KHC) chaired by Prince Alwaleed bin Talal, has signed an agreement with Saudi Binladin Group to continue developing the tower. The total contract value is estimated at SAR7.2 billion ($2 billion), out of which SAR1.1 billion has already been paid for previous construction. The remaining costs will be financed through internal funding and banking facilities.
The infrastructure development for the first phase of the Jeddah Economic Company City, which spans 1.3 million square meters, has been completed. This includes electricity, water, sewage, flood drainage networks, and high-speed internet connectivity. Construction is expected to be completed in 42 months, with 63 of the planned 157 floors already completed.
